-Audit Sampling

Question 1

What is audit sampling?

Answer 1

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Question 2

What are the characteristics of statistical sampling?

Answer 2

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Question 3

What are the characteristics of non-statistical sampling?

Answer 3

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Question 4

What types of sampling are used for substantive tests?

Answer 4

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Question 5

What type of sampling are control tests?

Answer 5

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Question 6

What is sampling risk?

Answer 6

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Question 7

What is the risk of assessing control risk too high?

Answer 7

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Question 8

What is the risk of assessing control risk too low?

Answer 8

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Question 9

What are the risks if the auditor concludes controls are operating effectively based on the sample and control risk is set too low?

Answer 9

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Question 10

What is the risk of incorrect acceptance?

Answer 10

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Question 11

What is the risk of incorrect rejection?

Answer 11

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Question 12

What is non-sampling risk?

Answer 12

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Question 13

How does sampling risk compare to non-sampling risk?

Answer 13

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Question 14

What is attribute sampling?

Answer 14

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Question 15

How do you determine if control procedures are operating properly or not operating properly?

Answer 15

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Question 16

What is the Tolerable Error Rate?

Answer 16

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Question 17

What is the expected population error rate?

Answer 17

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Question 18

What is the basic premise of attribute sampling?

Answer 18

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Question 19

For what is the expected population deviation (error) rate used?

Answer 19

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Question 20

What is the allowable risk of over-reliance?

Answer 20

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Question 21

When is attribute sampling used?

Answer 21

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Question 22

What is classic variable sampling?

Answer 22

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Question 23

What functions are used in conjunction with classic variable sampling?

Answer 23

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Question 24

What are the characteristics of probability proportionate to size (PPS) sampling?

Answer 24

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Question 25

What is projected misstatement?

Answer 25

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Question 26

How does Probability Proportionate to Size (PPS) sampling compare to Classic Variables sampling?

Answer 26

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Question 27

What factors affect sample size?

Answer 27

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Question 28

What is the formula for audit sampling?

Answer 28

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Question 29

What is allowance for sampling risk?

Answer 29

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Question 30

What is the tolerable error rate?

Answer 30

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Question 31

What are the steps to develop a sampling plan?

Answer 31

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Question 32

After a sampling plan is developed, what are the steps in sampling?

Answer 32

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Question 33

What is systematic sampling?

Answer 33

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Question 34

What is sequential sampling?

Answer 34

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Question 35

What is discovery sampling?

Answer 35

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Question 36

How does block sampling compare to other sampling methods?

Answer 36

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